Florida Launches Your Money, Your Life

TALLAHASSEE, Fla. – The state of Florida is weighing in on the issue of financial literacy and Florida’s Chief Financial Officer Tom Gallagher is hoping a new statewide public education initiative called Your Money, Your Life will help consumers here up their money management IQ. According to a recently released survey, one in five Floridians has suffered a financial crisis due to job loss, divorce or illness, yet most say they don’t contribute regularly to an emergency reserve fund. Privately funded by the Allstate Foundation and supported by the Florida Department of Financial Services, Florida Council on Economic Education, Florida Insurance Council, Florida Credit Union League and the Florida Bankers Association, the initiative includes public outreach, a media campaign, and a comprehensive Web site on personal financial matters at www.yourmoneyyourlife.org. The site, in both English and Spanish, features eight custom-built calculators to help consumers determine everything from loan repayment schedules or their personal investing styles to whether they are saving enough money for retirement. FCUL President/CEO Guy Hood said it was easy for the League to join with other financial providers to sponsor Your Money, Your Life. “The Florida Credit Union League became involved in the Your Money, Your Life project because we want to help Floridians put their money to work for them,” said Hood. “This initiative gives them the resources they need to do just that.” “The Your Money, Your Life initiative gives families of students a way to get involved,” said Gallagher. In addition to department staff across the state joining the Council in doing presentations in public schools to help teach basic financial management skills, the initiative will include public service announcements, op ed columns, editorial board visits and a half-hour television show being produced for release later this year. According to Hood, the campaign fits perfectly with the League’s efforts to promote financial education initiatives in schools throughout the Sunshine State, sponsored by the Florida Credit Union Foundation.